Chapter 1677 Shared Use of the Board of Directors (9/10)

Tongyong Auto's board of directors held a temporary meeting, and all the directors came, because the company's president, Malfoy, brought back important news.

They all knew that Malfoy went to see Ralph, the CEO of Fengyu Holding Group, and he must have brought back good news. These big businessmen now don't know that the Fengyu Holding Group has more money than they can spend.

If you say you don't know, it proves that you are not yet a big businessman.

"Malfoy, tell everyone what's going on." Saul, the chairman of Tongyong Motors, had neither sad nor happy expression on his face.

Malfoy nodded, and said loudly: "Everyone, you see that there are two documents in front of you, right? Among them, the red envelope is the condition issued by us, and the blue envelope is the condition issued by Fengyu Holding Group."

"Fengyu Holding Group's conditions are very simple. Fengyu Holding Group agreed to use cash to acquire part of our assets. Note that all of them are in cash, and there is no need to pay for stocks, and there is no deferred payment. The conditions are better than those given by the previous two companies. It's so much better."

"But at the same time, the assets they want to buy are all our high-quality assets, including brand assets such as Chevrolet and Buick, and they have no interest in the brand assets we want to get rid of."

"The current situation is that our shared car business has been severely affected. After the incident we were attacked, in order to stimulate sales, we made a sales method to provide consumers with five-year zero-interest loans, and In the next few years, the models and brands of this sales method will continue to expand, and more preferential measures will be proposed."

"In the first few years, our sales soared, and we firmly occupied the world's number one position in production and sales. We were recognized as the world's number one automobile group. and investment, providing high profits for our company."

“But when we decided to go into real estate lending, we went too big. Like some other real estate finance companies, we made too many subprime loans, which left us with too much risk.”

"This is different from a car. The price of a car is far less than that of a house. Although there are many cases of inability to repay the loan in the car loan, the loss is not large. The profit of our financial credit company can fully bear it. partial loss."

"But real estate is different. The loan amount for real estate is higher. The inability to repay the loan has become more and more serious since last year. The proportion of bad debts has gradually increased. Our most powerful financial credit company has also suffered losses. Those Mortgage of the house, and because of the depreciation of the house, we can't get back the investment at all."

"I did not agree to enter the field of real estate loans at the beginning, but no one on the board of directors supported me. I don't want to mention the past. If we want to get through the current difficulties, we must sell some assets or shares. My personal Opinion, I tend to sell to Fengfeng Holding Group. We need to discuss which assets to sell. "

Malfoy talked about some difficulties of the company, and pointed out that these difficulties were not caused by his improper management, but the result of the decisions of these directors. He was just the president and a senior wage earner.

He also did not say his final decision, but threw the burden on the board of directors. As for what the final decision is, he has at most the right to make a suggestion. If the board of directors decides, he can just implement it.

After listening to Malfoy's words, some directors had unhappy expressions on their faces. This Malfoy,

Are you blaming them? It's just a president who dares to accuse them of directors.

However, I heard that Chairman Saul intends to nominate Malfoy to the board of directors as an executive director. Perhaps this is Malfoy's confidence.

These directors, none of them thought Tongyong would not be able to survive this difficulty. Just because they are the same car, the world's number one car group!

Of course, they also know that some brands do not make money, and they lose a lot of money. The pace of expansion was too fast at the beginning, but now it seems a bit excessive.

Getting rid of some non-performing assets and carrying out a restructuring is something that many large companies have experienced, including many companies that are not losing money. They have always had this idea.

But no one is a fool, who is willing to take over those bad assets? They can only find a way to tie-in, that is, to use some high-quality assets and combine them with non-performing assets, so that they can be sold.

Of course, there is another way, that is, during asset reorganization, transfer the non-performing assets to a company, go bankrupt directly, and get rid of this burden.

But in this case, not only is the operation very complicated, but it also requires a large amount of cash turnover, and at least one shareholder needs to make a sacrifice. Who is willing to sacrifice? Moreover, this will also have a negative impact on the brand of the same car. The world's number one car company will go bankrupt?

Those directors looked at some of the assets that Malfoy listed for sale, and their faces were a little unhappy. There are too many high-quality assets listed, right?

But after seeing the assets that Fengyu Holding Group plans to acquire, they were really furious!

Too much deception!

All the high-quality assets listed above are the high-quality assets of Tongyong Automobile, and they are all businesses that are still profitable. We need funds to tide over the difficulties, but we sold all the profitable businesses, isn't that stupid!

"Malfoy, you recommend us to cooperate with such an enterprise?!" A director couldn't help but angrily scolded.

Malfoy said calmly: "This is just the other party's goal. Everyone knows that this is absolutely impossible, and Fengyu Holding Group must also know it. It's just a negotiation. How can the conditions of the two parties be the same?"

Asking prices all over the sky, paying back the money on the ground, this is often the case when doing business.

Sol saw that the other directors also wanted to speak, and he said directly: "Malfoy has also told everyone about our situation. Now Fengyu Holding Group is the only company that wants to acquire our business, and it is the only one that can acquire our business in the shortest possible time. Come out with plenty of cash."

"And the other party only said that they intend to acquire, and did not say any conditions. We can set some conditions. For example, if we want to buy certain brand businesses, we must acquire certain brands and factories together."

"This is a matter related to the interests of all our shareholders. Calling everyone to hold this board of directors is also to discuss this matter. Everyone think carefully about how we should negotiate with each other."

All the directors were silent, none of them wanted to be the leader. In case it is found out in the future that the sale of the xx brand was proposed by a certain director, then the employees of those companies will be dissatisfied and come to him directly?

Seeing that no one said anything, Saul ordered: "Everyone go back and make a sale plan, and the meeting will continue tomorrow. The longer it takes, the worse it will be for us!"

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